India's Food Market Set for Massive Growth by 2027

India's domestic food market is predicted to grow significantly, reaching USD 1,274 billion by 2027. The food processing sector, growing annually at 5.35%, contributed 7.66% to the GVA in 2022-23. The upcoming CII Foodpro Expo in Chennai will feature domestic and international exhibitors, discussing industry challenges and opportunities.

India's domestic food market is on track to grow by over 47 per cent between 2022 and 2027, projected to touch USD 1,274 billion, according to a leading industry official.

B Thiagarajan, Chairman of the Confederation of Indian Industry (CII) Foodpro Expo 2024, stated that the food processing sector maintained an average annual growth rate of 5.35 per cent from 2015-16 to 2022-23.

Thiagarajan, also the Managing Director of Blue Star Ltd, noted in a press release that the sector accounted for 7.66 per cent of the GVA (Gross Value Added) in manufacturing at 2011-12 prices in 2022-23. Employing nearly 2 million workers across 41,500 registered units, the sector is vital to India's economic growth.

Srivats Ram, Chairman of CII Tamil Nadu and Managing Director of Wheels India Ltd, highlighted India's leading production of various agricultural and non-food products.

The 15th biennial Foodpro event, scheduled from August 9 at Chennai Trade Centre, is set to spotlight food processing, packaging, and technology under the theme 'Accelerating Growth Scale for Food Industries.' The event, hosted by the Tamil Nadu government, will feature over 250 exhibitors, conferences, B2B meetings, product launches, and is expected to attract 25,000 visitors and traders.

Ram emphasized that CII Foodpro is a critical platform for stakeholders to showcase products, technologies, and discuss industry trends and challenges.